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Dec 27, 2012
12/12
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the main dispute continues to be over raising taxes. >>> news time right now 5:47. starbucks will tackle the fiscal cliff one cup at a time. the ceo how old shut wants workers in the -- howard schultz wants workers in the d.c. area store to write come together on the coffee cups they serve today and tomorrow. he says it's the company's way of respectfully telling politicians they need to find common ground. >> if people would get in the room and lee their ego behind and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> now this is just a suggestion from the ceo of starbucks. and employees won't be forced to write anything but a customer's name on the cup. >>> news around the nation this morning, hawaii's governor announced lieutenant governor will fill the u.s. senate seat vacated by the death of daniel inouye. he has said he'll be in d.c. today sworn today in. he says he will seek election for a full term in 2014 but a special election will be held to fill that spot until 2016. inouye was the se
the main dispute continues to be over raising taxes. >>> news time right now 5:47. starbucks will tackle the fiscal cliff one cup at a time. the ceo how old shut wants workers in the -- howard schultz wants workers in the d.c. area store to write come together on the coffee cups they serve today and tomorrow. he says it's the company's way of respectfully telling politicians they need to find common ground. >> if people would get in the room and lee their ego behind and not be so...
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Dec 27, 2012
12/12
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WBAL
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. >> i don't so how you could hammer out any kind of a grand bargain or large plan involving tax reform and entitlement changes in a matter of days. >> reporter: serious doubt is setting in. even starbucks is getting involved, writing "come together" on its cup. speaker john boehner says he's sitting this round out after failing to get enough house republicans to support his own plan just before christmas. >> i think boehner is being controlled unfortunately by the right wing. >> reporter: that leaves it up to majority leader harry reid and the rest of the senate to find a possible solution. aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate big spends cut and restore unemployment benefits. >> i think you're likely to see a two-step process here. one sort of dealing with the immediate dynamic so you can deal with the larger situation. >> reporter: without a deal, bush era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the deadline hoping it would force a compromise. so far, that's backfired. also flying b
. >> i don't so how you could hammer out any kind of a grand bargain or large plan involving tax reform and entitlement changes in a matter of days. >> reporter: serious doubt is setting in. even starbucks is getting involved, writing "come together" on its cup. speaker john boehner says he's sitting this round out after failing to get enough house republicans to support his own plan just before christmas. >> i think boehner is being controlled unfortunately by the...
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Dec 27, 2012
12/12
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i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do withhe bush tax cuts. that's one thing. we have to dide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad demonstration passed before the last eltion and 90% of those hikesere delayed until after the president got himself reelected. then we have massive spending, $8 trillion in debt that obama's running up the next decade. republicans have several tools. right now we have very well leverage in the debate over the fiscal cliff because that stuff happens automatically but the idea of a debt ceiling increase, they've told oba if you want a trillion dollar in higher debt and he needs that eight times in the next decade, you have to cut spending a trillion dollars. >> here, i'll ask you again. 0
i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do withhe bush tax cuts. that's one thing. we have to dide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad...
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Dec 25, 2012
12/12
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i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to remember now, we're just a few days away. >> if no deal is reached over 2 million americans will lose their jobless benefits and workers will see a 2% cut in take home pay as social security payroll taxes go up january 1st. jennifer johnson, nbc news, washington. >> well, around this time of year, there is a big surprise that happens on the rockefeller center ice skating rink outside our news world headquarters. it happens about half a dozen times a day every day. erica hill has the story. >> right outside our doors at rockefeller center, home to the christmas
i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut short his holiday vacation in hawaii. democrats hope mr. obama will continue to fight for a complete agreement, not just a temporary patch. >> i definitely hope that he can and will continue to push for as big a deal as possible, but you've got to...
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Dec 26, 2012
12/12
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FOXNEWSW
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i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do with the bush tax cuts. that's one thing. we have to decide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad demonstration passed before the last election and 90% of those hikes were delayed until after the president got himself reelected. then we have massive spending, $8 trillion in debt that obama's running up the next decade. republicans have several tools. right now we have very well leverage in the debate over the fiscal cliff because that stuff happens automatically but the idea of a debt ceiling increase, they've told obama if you want a trillion dollars in higher debt and he needs that eight times in the next decade, you have to cut spending a trillion dollars. >> here, i'll ask y
i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do with the bush tax cuts. that's one thing. we have to decide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad...
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Dec 27, 2012
12/12
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CNNW
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but perhaps, democrats think if they can add an extension of the estate tax cut or put tax extenders in there they can lure some republicans. but that is part of the negotiation that's going to go on behind the scenes between democrats and one by one republican after republican. what do you need in order to come to the table. >> the senate democrats saying they think it's best to wait until the very last minute. why is that? >> this is going to make voters and viewers so happy i'm sure. the reason is because they know the reality. and they have seen it time and time again, congress acts when they are up against a deadline and not before. we are close to it. but it won't be until they are facing the cliff and teetering off the edge that the republicans will say fine, uncle, i'll go for this even though i don't think it's the right thing. but i've got to tell you, randi, still for the most part, democrat and. >> rob: sources do think that the most likely scenario is going off the cliff, and the reason is because, again, this is not going to make voters or viewers happy, is because poli
but perhaps, democrats think if they can add an extension of the estate tax cut or put tax extenders in there they can lure some republicans. but that is part of the negotiation that's going to go on behind the scenes between democrats and one by one republican after republican. what do you need in order to come to the table. >> the senate democrats saying they think it's best to wait until the very last minute. why is that? >> this is going to make voters and viewers so happy i'm...
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Dec 30, 2012
12/12
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WJLA
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would stop the increase of the estate tax. the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor that would increase taxes for households that earn a quarter million dollars or more, and respect -- expect republicans would block that proposal. but rather than take it back as a stopgap measure, think of it as a political move to try to shift the responsibility of failure on to republi watches the hour of reckoning. >> as the deadline approaches, our coverage of the fiscal cliff negotiations continue on television and on-line at wjla.com. >> some people in the area are still cleaning up after the high wind thursday. and, apart, a tree crashed through a house. -- in takoma park, a tree crashed through a house. in mclean, trees littered the georgetown park way. >> maryland health officials are reporting their first death related to hypothermia of the season. the health department says a 65- year-old man died in frederick county between december 18-24. pulte officials did not rel
would stop the increase of the estate tax. the president has asked democratic leader harry reid to prepare a separate bill to put on the senate floor that would increase taxes for households that earn a quarter million dollars or more, and respect -- expect republicans would block that proposal. but rather than take it back as a stopgap measure, think of it as a political move to try to shift the responsibility of failure on to republi watches the hour of reckoning. >> as the deadline...
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Dec 27, 2012
12/12
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so you need policy consensus, some tax reduction, some investment and education, and some tax breaks that will help sort of states specialize in different industries and attract them. >> let's end where we started. some criticisms coming out from ips saying the president has left some things on the table here. the estate taxes one of those that they bring to bear here. they also talk about hedge fund managers specifically being ability to get favorable tax rates there, too. how has the administration done with this? >> it's sort of paralysis on this issue. you know, the administration -- the republicans -- what we seed with a fiscal cliff and what we saw in our series is the ability to create consense politically is hurting us tremendously, economically. the earlier guest was talking about how these are self-inflected problems, and that's what's happening. tax rates will go up across the board. the condition does look like it will slip back, and it's a global change in the economy. again people with skills competing globally and doing very very well at the top. we're not addressing f
so you need policy consensus, some tax reduction, some investment and education, and some tax breaks that will help sort of states specialize in different industries and attract them. >> let's end where we started. some criticisms coming out from ips saying the president has left some things on the table here. the estate taxes one of those that they bring to bear here. they also talk about hedge fund managers specifically being ability to get favorable tax rates there, too. how has the...
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Dec 26, 2012
12/12
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KPIX
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it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid. >>> the exconwho ambushed and killed two volunteer firefighters in upstate new york may have murdered his sister. her body was found yesterday, and police say william spamglor had the same kind of military rifle used in the connecticut school massacre. he left behind a chilling note. >> reporter: the christmas eve fire in western new york burned seven homes to the ground, but police say william spangler wanted to do much worse. he planned to burn down the entire neighborhood and "do what i like doing best, killing people." the 62-year-old shot at firefighters from a nearby bank. he killed two of them before taking his own life. police found his note and three guns, including a bushmaster rifle, similar to the weapon used m connecticut school shooting. >> he is a convicted felon. he had murdered his grandmother in 198
it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid. >>> the exconwho ambushed and killed two volunteer firefighters in upstate new york may have murdered his sister. her body was found yesterday, and police say william spamglor had the same kind of military...
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Dec 24, 2012
12/12
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WUSA
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instead he wants more spending and more tax hikes that will hurt our economy. and he refuses to challenges the members of his party to deal honesty with the entitlement reform and the big issues facing our nation. that's why we find ourselves here today. >> the president is scheduled to return to washington wednesday. there's no word if any new talks are planned. >>> even if we go over the cliff, workers won't feel all of the tax increaseness their january paychecks. the american payroll association says it's already too late for employers to accurately with hold income taxes from january paychecks. however, workers will immediately feel the squeeze of a 2% social security payroll tax. >>> 9news is tracking the discussions on capitol hill concerning the fiscal cliff. we've broken our newsroom into four groups. one to monitor the potential impact on the local economy. a second to prepare you for what could happen to you and your family. a third will help you take action and the fourth will hold lawmakers accountable. you can get alerts sent straight to your phon
instead he wants more spending and more tax hikes that will hurt our economy. and he refuses to challenges the members of his party to deal honesty with the entitlement reform and the big issues facing our nation. that's why we find ourselves here today. >> the president is scheduled to return to washington wednesday. there's no word if any new talks are planned. >>> even if we go over the cliff, workers won't feel all of the tax increaseness their january paychecks. the american...
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Dec 27, 2012
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the impact of some of these cuts and taxes would not be felt immediately on january 1. that's because the i.r.s. and other agencies didn't expect it to come to this, and so it will take a few weeks for workers to see more money being withheld in their paychecks, jim. >> axelrod: nancy cordes with the president in hawaii. thank you. there is new evidence that the housing market is coming back. a report out today showed home prices were up 4.3% in october compared to last year. prices rose in 18 of the 20 largest cities. tonight, 88-year-old george h.w. bush remains in a hospital in houston where he's been since last month battling a bad cough. the former president now has a persistent fever. bob orr joins us now from washington with details. bob. >> reporter: good evening, jim. well, a spokesman for the bush family says that former president george h.w. bush is in "guarded condition," with that stubborn fever you mentioned that's not responding well to tylenol. the 88-year-old former president is on a liquid diet, and tonight he's in an intensive care unit at the houston
the impact of some of these cuts and taxes would not be felt immediately on january 1. that's because the i.r.s. and other agencies didn't expect it to come to this, and so it will take a few weeks for workers to see more money being withheld in their paychecks, jim. >> axelrod: nancy cordes with the president in hawaii. thank you. there is new evidence that the housing market is coming back. a report out today showed home prices were up 4.3% in october compared to last year. prices rose...
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Dec 24, 2012
12/12
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that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it
that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats...
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Dec 27, 2012
12/12
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WMAR
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could see his taxes go up by more than $2.4 million next year alone. and it's not just taxes. on january 1st, unemployment benefits expire for some 2 million people. >> we're joins here in new york by jon karl. chief white house correspondent, like the ring to it with your name. a lot of people are watching, saying, stop messing around in washington. that's a lot of tax money at stake here. >> reporter: and this would be the first big tax hike we've seen in more than 20 years, david. there's a lot of talk about a potential meeting at the white house. the president came all the way back from hawaii, cut short the vacation, left the family back. no meeting scheduled yet but i would expect you will see congressional leaders sometime over the next 24, 36 hours, come to the white house one last ditch effort to at least stop these tax hikes from going into effect and extend the unemployment benefits. butguarantee. >> and some speculation that meeting could be tomorrow. >> reporter: yes. >> we'll see. jon, thank you. the clock is ticking. >>> two more important political notes we're
could see his taxes go up by more than $2.4 million next year alone. and it's not just taxes. on january 1st, unemployment benefits expire for some 2 million people. >> we're joins here in new york by jon karl. chief white house correspondent, like the ring to it with your name. a lot of people are watching, saying, stop messing around in washington. that's a lot of tax money at stake here. >> reporter: and this would be the first big tax hike we've seen in more than 20 years,...
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Dec 26, 2012
12/12
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raise taxes. so without getting too far into the weeds they're trying to find a method to prevent the more dangerous economic issues from taking effect but at the same time reduce the political pressure on those, particularly conservatives who don't want to raise taxes. >> we just lowered your taxes, we let it go up then lowered it so we're the good guys. the question i don't think anybody gets, they're coming back tomorrow. the president, congress is coming back from vacation. and there's not a bill to be had. >> that's right. i think that you step back from there and we in washington say they never come to an agreement at the very end. now we're at the end and they don't have an agreement. americans think are these people knuckleheads, unable to do anything right? it's a tremendous blow to the credibility, particularly of congress, if we go off the fiscal cliff and then go to all these shenanigans to patch something together. >> ken walsh, chief white house correspondent dante for u.s. news and
raise taxes. so without getting too far into the weeds they're trying to find a method to prevent the more dangerous economic issues from taking effect but at the same time reduce the political pressure on those, particularly conservatives who don't want to raise taxes. >> we just lowered your taxes, we let it go up then lowered it so we're the good guys. the question i don't think anybody gets, they're coming back tomorrow. the president, congress is coming back from vacation. and...
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Dec 24, 2012
12/12
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FBC
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it looks like we're going to get a little bit of extension it it of the tax, the bush tax credits or the bush tax cuts and see unemployment benefits, you know, extended for about 2 million people. and as a result, we're going to see a lot of discussion and little results except higher taxes, that's for sure. >> and one thing that surprised me, we know that taxes will remain the same until the end of the year. we assume that taxes are going to go up after the first of the year. so, why aren't people cashing out right now if they have gains, cash out right now, collect your gains at the lower tax rates and buy back in in january depending on what happens with the fiscal cliff? >> yeah, i mean, i actually have a lot of clients where we are literally selling their portfolio, capturing their cost basis now and reestablishing a new cost basis because we know for a fact we'll see 3.8% next year just from the obamacare tax and other taxes and we're seeing people do that. you're not necessarily seeing it in the market because about, i think something close to very, very small percentage of th
it looks like we're going to get a little bit of extension it it of the tax, the bush tax credits or the bush tax cuts and see unemployment benefits, you know, extended for about 2 million people. and as a result, we're going to see a lot of discussion and little results except higher taxes, that's for sure. >> and one thing that surprised me, we know that taxes will remain the same until the end of the year. we assume that taxes are going to go up after the first of the year. so, why...
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Dec 22, 2012
12/12
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KGO
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he wants a stop-gap measure to keep taxes from going up. and a framework for a bigger deal next year. all this while the halls of congress are empty. and the president's not in this house, either. this morning, the president arrived in his home state of hawaii for the holidays. before leaving, he told members of congress to cool down. have some eggnog and christmas cookies and come back and make a deal. >> nobody can get 100% of what they want. and this is not simply a contest between parties, in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> reporter: while members of the house left town, the republican leader in the senate reflected the gridlock, in front of a fireplace. >> i'm stuck in washington, trying to prevent my fellow kentuckians from having to shell out more money to uncle sam next year. >> reporter: joking aside, the president met again with the democratic leader in the senate and house speaker john boehner. but it is a wounded and weakened speaker of the house, who was deserted
he wants a stop-gap measure to keep taxes from going up. and a framework for a bigger deal next year. all this while the halls of congress are empty. and the president's not in this house, either. this morning, the president arrived in his home state of hawaii for the holidays. before leaving, he told members of congress to cool down. have some eggnog and christmas cookies and come back and make a deal. >> nobody can get 100% of what they want. and this is not simply a contest between...
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Dec 26, 2012
12/12
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. >> reporter: brian is congress does not act taxes will go up on all americans next tuesday. they are scheduled to get back to work for tomorrow morning which is when president barack obama's flight returns from hawaii but many are pest mystic he will reach -- pessimist particular they will reach the deadline. it is the republican controlled householding out. house speaker john boehner wants increase for those making only 1 million a year. they say it's more likely we will go over the cliff than not. >> if we allow that to happen it will be the most colossal consequential act of congressional you are responsibility in a long time. >> reporter: some republicans are saying president barack obama will actually get his way if a fiscal cliff is not reached before the deadline, kyle la campbell, washington d.c. newsroom. >>> and in general delegations are not as crowded as the first ones. as many as 800,000 are expected to be there for the president's 21st inauguration and that's less than those who flooded the area in 2009. >>> it should be much better and governor brown wants to
. >> reporter: brian is congress does not act taxes will go up on all americans next tuesday. they are scheduled to get back to work for tomorrow morning which is when president barack obama's flight returns from hawaii but many are pest mystic he will reach -- pessimist particular they will reach the deadline. it is the republican controlled householding out. house speaker john boehner wants increase for those making only 1 million a year. they say it's more likely we will go over the...
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Dec 27, 2012
12/12
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at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a vote by which the only way that vote would get over the legislative would be with a majority of democrats. he doesn't want to do that to preserve his job. once we go over the cliff, we can possibly do more of a bungee jump if we reverse the damage quickly. in that vote republicans don't have to vote for a tax increase, which to me is absolutely ridiculous in terms of serving the economy and the country, but i guess the politics makes sense to some of these guys. >>> jared bernstein, thank you. the storm is coming. look at that storm, the symptom is coming behind you. >> you weren't talking about a fiscal
at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a...
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Dec 22, 2012
12/12
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KGO
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just ten days until everybody's taxes go up and spending cuts kick in. and washington's a ghost town with no deal in sight. talks halted until after christmas, leaving just a few days to bang out some kind of plan before the deadline. abc's david kerley has the latest from the white house. david, before leaving us on the holidays with his family, the president urged lawmakers to find some common ground for these coming days. but it doesn't seem to be happening right now. >> reporter: the president in that same message, gave up on the big deal for right now. he wants a stop-gap measure to keep taxes from going up. and a framework for a deal next year. and the president's not in this house, either. this morning, the president arrived in his home state of hawaii for the holidays. before leaving, he told members of congress to cool down. have some eggnog and christmas cookies and come back and make a deal. >> nobody can get 100% of what they want. and this is not simply a contest between parties, in terms of who looks good and who doesn't. there are real wor
just ten days until everybody's taxes go up and spending cuts kick in. and washington's a ghost town with no deal in sight. talks halted until after christmas, leaving just a few days to bang out some kind of plan before the deadline. abc's david kerley has the latest from the white house. david, before leaving us on the holidays with his family, the president urged lawmakers to find some common ground for these coming days. but it doesn't seem to be happening right now. >> reporter: the...
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Dec 27, 2012
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if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican support, i can tell you what would pass. if asked if he was optimistic, he said he was neither optimistic or pessimistic but was going back to talk to the president. the senate majority leader sounded frustrated with house republican leadership. >> american people i don't think understand the house of representatives is operating out the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house representatives to get what they want. >> reporter: as you mentioned, trace, the speaker's spokesman said afterward, reid should focus on legisla
if the president and lawmakers cannot reach a deal in the next five days, automatic tax hikes and major spending cuts are set to kick in and economists warn that could trigger another recession. what else are we hearing from democrats on the hill? >> trace, very interesting comments from vice president joe biden up here for an unrelated matter about the fiscal cliff today. he says, essentially he was asked what do you think will pass? he said if you tell me what would attract republican...
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Dec 27, 2012
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pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, it will be a big jump up. you have to send a check to uncle sam for, on average, about 14,000 additional dollars. the highers wage earns 500,000 to a million they will pay an average of $34,000 more. over a million dollars, the irs will want 216,000 additional dollars from you on top of what you already pay in taxes. the upshot of all of this; >> you will have less money to spend in a very difficult economy with very little clarity on how the economy is going to pick up in the near future. even in the long run. we are entering into a very difficult economic environment, unfortunately. >> a wealth manager says need to aust
pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, it will be a big jump up. you have to send a check to uncle sam for, on average, about 14,000 additional dollars....
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Dec 26, 2012
12/12
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KRON
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house and senate members are going to reconvene without an agreement, automatic tax increases and that will be triggered in the new year. it looks like few people season. retails are the weakest. holiday sales increased. and they expected them to go 6 to 4%. it's blamed on super sandy which stroke the east coast but let us not forget why obama is returning from hawaii early. the lawmakers will be able to reach a deal. >>> we have rainfalling across the bay area and some heavy showers and departing san jose out of the santa clarita valley but there's showers coming in and i'll let you know on storm track 4 coming up. with my keurig vue brewer, i can brew my coffee just the way i love it. how do you do that? inside the brewer, there's this train that makes coffee stronger, bigger, and hotter! actually, i just press this button. brew what you love with the keurig vue. >> we have wet weather still falling across the bay area and here's live storm track, but the rain is gone for this evening and showers in the south bay but they're moving out to deablos and showers for palo alto and we'll s
house and senate members are going to reconvene without an agreement, automatic tax increases and that will be triggered in the new year. it looks like few people season. retails are the weakest. holiday sales increased. and they expected them to go 6 to 4%. it's blamed on super sandy which stroke the east coast but let us not forget why obama is returning from hawaii early. the lawmakers will be able to reach a deal. >>> we have rainfalling across the bay area and some heavy showers...
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Dec 22, 2012
12/12
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all of you want equal minimum wage but i'd like equal minimum wage, too, but what happens about the tax, older generation pays over 18. thank you. [applause] >> okay. have we got -- who have we got from london? anybody from london? yes. okay. this young man, adopted the noble technique of waving at me, not with one wand but with two. >> first of all, thank you-mr. speaker, i represent the london. i ask you a question. do we live in the united kingdom? yes. [laughter] >> no not a difficult question. but are we a united people? unfortunately, no. we are divided by something we can't help, our age. we can't help when we were born. we didn't ask if we could be two years older or maybe two years younger. so how is it fair that we have people say to you, no, you can't earn more. you've got to earn less because you're merely two years younger. so i believe that we should adopt this motion and we should use it as our national campaign next year. we will then be a united people, and together we can stand shoulder-to-shoulder and we'll be a united young people, united young people or united old p
all of you want equal minimum wage but i'd like equal minimum wage, too, but what happens about the tax, older generation pays over 18. thank you. [applause] >> okay. have we got -- who have we got from london? anybody from london? yes. okay. this young man, adopted the noble technique of waving at me, not with one wand but with two. >> first of all, thank you-mr. speaker, i represent the london. i ask you a question. do we live in the united kingdom? yes. [laughter] >> no not...
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Dec 23, 2012
12/12
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WRC
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if no deal is reach by then, income taxes will go up for everyone. >>> it appears that former president george h.w. bush may not make it home from the hospital in time for christmas. the statement released tonight says mr. bush had a few low energy days and he'll stay in the hospital a little longer just adds a precaution, they say. the 41st president has been in the hospital since just after thanksgiving. he was initially admitted for a nasty cough braunbronchitis. >>> still ahead a call for stricter gun control in the wake of the tragedy in newtow >>> the nra argued this week that more guns in schools in the hands of trained professionals could protect america's children. you can see an exclusive interview with the wayne la pierre tomorrow morning on "meet the press" at 10:30 right here on nbc 4. >>> well, what's your excuse? ahead tonight some of the surprising things people will tell their bosses to get the day off from work. >>> plus no more wind. it's now just >>> if you've ever told a little white lie to your boss to get some time off, apparently you're not alone. a new survey of
if no deal is reach by then, income taxes will go up for everyone. >>> it appears that former president george h.w. bush may not make it home from the hospital in time for christmas. the statement released tonight says mr. bush had a few low energy days and he'll stay in the hospital a little longer just adds a precaution, they say. the 41st president has been in the hospital since just after thanksgiving. he was initially admitted for a nasty cough braunbronchitis. >>> still...
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Dec 24, 2012
12/12
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WGN
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the country faces massive mandatory tax increases and federal spending cuts on january 1st. meanwhile one republican congressman says president obama wants america to go over that cliff >> it is unclear when the president will return from hawaii. staffers for both sides are expected to be communicating over the next few days >> egypt's leading opposition party says it plans to appeal the results of yesterday's constitutional referendum. preliminary results show the new constitution passed with 64- percent of the vote. but opponents say it limits their rights -- and is not legitimate because the voting procedure didn't follow guidelines. parliamentary elections are scheduled in two months -- and the opposition hopes to present a united front by then. some 68-percent of egyptians did not vote in the referendum. >> former president george h. w. bush is showing signs of recovery but may not be home to celebrate christmas with his family. he has been hospitalized since november with a brown tide is related cough. in a statement from hospital his doctors are optimistic he will mak
the country faces massive mandatory tax increases and federal spending cuts on january 1st. meanwhile one republican congressman says president obama wants america to go over that cliff >> it is unclear when the president will return from hawaii. staffers for both sides are expected to be communicating over the next few days >> egypt's leading opposition party says it plans to appeal the results of yesterday's constitutional referendum. preliminary results show the new constitution...
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Dec 27, 2012
12/12
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FBC
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happened, tax increases. john boehner was offered 121. not only are they phony, they get smaller. negotiation to walk into. eric: we have to leave it there, grover norquist, thank you. imagine every ship in port for massachusetts to texas shut down, nothing gets in or out. if they don't get their way, will everybody pay? this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just g "blacked out." [ brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture ca! for any flight, any time! that's double miles you can actually use! how illuminating. what's in your wallet? let me guess, am on the naughty list again? ho ho ho! >> forget the fiscal cliff. eric: forget the fiscal cliff, what about a container cliff and what that might do to the economy. a a nasty standoff between union workers and the companies could cripple the nation. unless two groups reach a
happened, tax increases. john boehner was offered 121. not only are they phony, they get smaller. negotiation to walk into. eric: we have to leave it there, grover norquist, thank you. imagine every ship in port for massachusetts to texas shut down, nothing gets in or out. if they don't get their way, will everybody pay? this family used capital one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just g...
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Dec 23, 2012
12/12
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FOXNEWSW
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more in taxes. the average tax increase for someone making between $50,000 and $75,000 a year is $2,399 and for those making diss 100,000 to $200,000 a tax increase of more than $6,000 awaits you. there is only one person that can provide the leadership and that is the president of the united states. >> no, sir. >> there is only one person that can provide the leadership. rather than campaigning he should be here leading and, woulding with people and talking to folks on both sides of the aisle to get a solution so we don't go over the cliff. i believe the president is eager to go over the cliff. >> i don't believe that at all. there are 535 of us that can provide leadership. there are 435 in the house. there are 100 in the senate. there is the president. all of us have a responsibility here. >> as you can see lots of finger-pointing going on on fox news today. the number three republican in the senate, a senate budget chairman faced off with what to do about the fiscal cliff. earlier we had the oppo
more in taxes. the average tax increase for someone making between $50,000 and $75,000 a year is $2,399 and for those making diss 100,000 to $200,000 a tax increase of more than $6,000 awaits you. there is only one person that can provide the leadership and that is the president of the united states. >> no, sir. >> there is only one person that can provide the leadership. rather than campaigning he should be here leading and, woulding with people and talking to folks on both sides...
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Dec 22, 2012
12/12
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FOXNEWSW
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he wants more spending and tax hikes and that will hurt our economy . he refuses to challenge the members of his family to deal with entitlementriform and the big issues that are facing our nation. president obama said a deal could be reached but that appears unlikely. he took off for hawaii and landed with his family for a shorter than usual christmas break. he said he is it a hopeless optmist. he is scaling back and pushing for a tax cut for the middle class and calling for compromise. it can only pass from democrats and republicans and no one gets 100 percent of what they want. everyone has to give a bit in a sensible way. we move forward together or not at all. in addition to making bush era tax cuts permanent for the middle class. let president want to preserve unemployment benefits if congress doesn't act. that know amount to an achievable goal and something that can get dun before the end of the year. >> steve, thank you for that. and now turning to the scathing report against the state department. it is fueling out a debate over what they call t
he wants more spending and tax hikes and that will hurt our economy . he refuses to challenge the members of his family to deal with entitlementriform and the big issues that are facing our nation. president obama said a deal could be reached but that appears unlikely. he took off for hawaii and landed with his family for a shorter than usual christmas break. he said he is it a hopeless optmist. he is scaling back and pushing for a tax cut for the middle class and calling for compromise. it can...
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Dec 24, 2012
12/12
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WRC
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tax rate hikes are partisan solution driven by the president but he'll get tax rate hikes. >> some lawmakers say that no deal will get done by the end of the year. >>> the second victim of a shooting in northeast washington has died. beasley was found shot in the early hours of saturday morning. harris was found lying in the road nearby and pronounced dead at the scene. police are offering a $25,000 reward for information that helps them solve this case. >>> a fixture on the potomac river since the 1940s could be closing. jack's boathouse has been renting canoes for decades. the national park service owns that land and recently notified the tenant by letter that he had to vacate by the end of january. >> found just a form letter saying we were terminated and had to be out in 30 days. >> he says he started notifying boat owners and 27 employees who would be let go in the boathouse closes. fans of jack's boathouse started a facebook page to try to save the landmark. >>> the mars rover is about to do something never done before on the red planet. it will begin searching for rocks to drill. righ
tax rate hikes are partisan solution driven by the president but he'll get tax rate hikes. >> some lawmakers say that no deal will get done by the end of the year. >>> the second victim of a shooting in northeast washington has died. beasley was found shot in the early hours of saturday morning. harris was found lying in the road nearby and pronounced dead at the scene. police are offering a $25,000 reward for information that helps them solve this case. >>> a fixture on...
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Dec 28, 2012
12/12
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WTTG
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on the middle class, leaving more sweeping spending cuts and tax increases until next year. house majority leader cantor believes they could be in session the day before the new congress is sworn in, january 2nd. today's meeting is the first face to face meeting between the president and republican leaders since december 16th. senate minority leader mcconnell has said he is eager to hear what the president has to say. that's the latest here at the white house, back to you. >> sherri, thank you very much. we've been getting responses about the negotiatings from viewers. we want to hear your voice on to topic. go to our facebook page. >>> president vladimir putin signed a bill banning americans from adopting russian children this morning. he signed the ban in retaliation for a new law passed by the u.s. congress that punishes russian officials for human rights abuses. many russians protested this week and even the russian foreign minister the law is a bad idea. >>> taking a look at our other top stories now. sad news this morning, desert storm commander norman schwartzkopf has
on the middle class, leaving more sweeping spending cuts and tax increases until next year. house majority leader cantor believes they could be in session the day before the new congress is sworn in, january 2nd. today's meeting is the first face to face meeting between the president and republican leaders since december 16th. senate minority leader mcconnell has said he is eager to hear what the president has to say. that's the latest here at the white house, back to you. >> sherri,...
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Dec 22, 2012
12/12
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KGO
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millions when you take into consideration property values, all of the tax base if they're to lose jobs. it's oo local restaurants and retailer as cross the street from the main entrance stand to lose good customers. another concern is what a large relocation will do to the real estate market. and she points out many moved here from lower cost area autos they ended up renting homes so it's going to be vaikance yeez on rentals or on homes but we have waiting lists for rentals. and our homes have multiple offers so i don't think we're going to have issue autos in a carefully worded e mail, chevron says business needs be routinely reviewed and seemed to indicate that remaining bay area jobs are not likely to move to houston. the mayor recognizes the decision is probably a done deal, but still would like to talk to executives to find out what he can learn to prevent more jobs from leaving the area. in sab ramone, abc 7 news. >> and this shuffle of jobs should not have an affect on the local unemployment rate. figures show california jobless rate now at 9.8% and that is the first time it dip
millions when you take into consideration property values, all of the tax base if they're to lose jobs. it's oo local restaurants and retailer as cross the street from the main entrance stand to lose good customers. another concern is what a large relocation will do to the real estate market. and she points out many moved here from lower cost area autos they ended up renting homes so it's going to be vaikance yeez on rentals or on homes but we have waiting lists for rentals. and our homes have...
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Dec 26, 2012
12/12
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FOXNEWSW
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minimum tax. there is an entire set of taxes that there are two methods of tax. if you're doing that, you're in a lower tax rate and certain things are not deductible for the alternative minimum tax. you can't deduct state income taxes or real estate taxes. so you really need to run the numbers for both years, look at some of the rate changes that you are going to know about, such as 3.8% investment income, medicare tax and other things, then make those decisions. >> gretchen: unfortunately, we don't know exactly what tax rate anyone is going to have because we still are in the fiscal cliff thing. you do recommend prepay state income taxes? >> if you're not in the amt, prepay state income taxes, prepay real estate taxes because you can get deductions. if you're deciding you want to save tacks for 2012. >> gretchen: prepay your 2013 mortgage so it can be included in 20 is it -- 2012. >> you can't pay your february one, but you can pay your january one because it's interest in december and you can g
minimum tax. there is an entire set of taxes that there are two methods of tax. if you're doing that, you're in a lower tax rate and certain things are not deductible for the alternative minimum tax. you can't deduct state income taxes or real estate taxes. so you really need to run the numbers for both years, look at some of the rate changes that you are going to know about, such as 3.8% investment income, medicare tax and other things, then make those decisions. >> gretchen:...
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Dec 27, 2012
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a lot of taxes will go up but taxes will go up on everybody, not injure the guy around the tree that's paying for everything but everyone will have to pay. and then folks will realize the government we are voting for costs us money too. >> that's the thing. if we don't go over the cliff and they don't reach a compromise, what will happen? they can't afford to keep spending like this. won't spending have to go down by virtue after compromise not being reached? spending will go down a little bit because of the sequester and 9 defense spending, what you talked about on the show quite a bit. a big chunk comes from tax increases. little the end of the unemployment benefits of that been going on for a while, the payroll tax holiday and the alternative minimum tax which is going to grab more and more people. you will have less subsidies for lower income people who are unemployed today and higher tax on middle income americans. it's not great. none of us want tax increases but at the end of the day trillion dollars deficits are bad, too. trillion dollars deficits every year as far as the eye c
a lot of taxes will go up but taxes will go up on everybody, not injure the guy around the tree that's paying for everything but everyone will have to pay. and then folks will realize the government we are voting for costs us money too. >> that's the thing. if we don't go over the cliff and they don't reach a compromise, what will happen? they can't afford to keep spending like this. won't spending have to go down by virtue after compromise not being reached? spending will go down a...
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Dec 22, 2012
12/12
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FBC
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we'll be back in a second. >> proposal to get our deficit uncontrol, avoid tax cuts, or avoid tax hikes on the middle class, and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending but also asks the wealthiest americans to pay more, proposal that will strengthen the middle class over the long haul and grow our economy over the long haul. during the course of these negotiations i offered to compromise wit republicans in congress. i met them halfway on taxes, and i met them more than halfway on spending. in terms of actual dollar amounts we're not that far apart. as of today i am still ready and willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our econy and the confidence of our businesses. i remain committed to working towards that goal, whether it happens all at once or whether it happens in several different steps. but, in 10 days we face a deadline. in 10 days under current law tax rates are kedcud you would to -- scheduled to rise on most americans. even th
we'll be back in a second. >> proposal to get our deficit uncontrol, avoid tax cuts, or avoid tax hikes on the middle class, and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending but also asks the wealthiest americans to pay more, proposal that will strengthen the middle class over the long haul and grow our economy over the long haul. during the course of these negotiations i offered to compromise wit republicans in congress. i met them halfway on...
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Dec 27, 2012
12/12
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MSNBCW
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the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the bill that the house sent over at all? the fact is, harry reid has -- needs to add republican cooperation. he wants to say, look, this isn't a game. this isn't show. you know, i can bring out a bill, pass a bill. if john boehner says i'm not going to look at that, what's the point? let's make something happen here. that is what the american people are looking for. we're concerned about the fiscal and economic policies. there's a recovery period that we're experiencing to put more challenges before the economy both consumers and investors. let's create certainty. let's make sure that we pass tax cuts fo
the alternative minimum tax which all of us, again, agree should not apply to 26 million americans. we agree on that. let's vote on that. let's create that certainty and move forward. let's create a path to move forward to deal with comprehensive tax policy in a fair and responsible way and let's deal with the deficit and the balance in a fair away. john boehner basically said no to all of that. and that's really not acceptable leadership. >> is there any -- should harry reid amend the...
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Dec 27, 2012
12/12
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CNNW
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raising taxes for everybody making more than $250,000 a year and adding a few other tax-related items in there. maybe spending but it's unclear. the question is whether or not they can put all that together in a way to get enough republican votes in order to pass the senate and then would have to have enough votes to pass the house as well. whether they can do that in the next few days is an open question. >> just procedurally too, that takes time. and congress notoriously moves slowly. one wall street economist suggested, and this caught my attention, bun ji jump off the cliff. meaning we'll bounce back afterwards meaning once the tax hikes goes into effect congress will have no choice. they will have to introduce a bill that everyone can agree on. what's your take on that. what are your congressional sources saying to you privately? >> they are saying the betting money is on that right noug. it's an interesting way to put it. the whole concept of taking a vote in the next five days on anything would effectively would be to raise taxes. each of the senators would be taking a vote tha
raising taxes for everybody making more than $250,000 a year and adding a few other tax-related items in there. maybe spending but it's unclear. the question is whether or not they can put all that together in a way to get enough republican votes in order to pass the senate and then would have to have enough votes to pass the house as well. whether they can do that in the next few days is an open question. >> just procedurally too, that takes time. and congress notoriously moves slowly....
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Dec 27, 2012
12/12
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this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left as far as businesses also deal with their own tax hikes. >> you are going to see less money in your paycheck. >> the government has to bite the bullet with $1.2 trillion in spending cuts. more than half of that is to the defense budget. >> they say families may need austerity calculation before making big purchases. look at the money you have and the money you need in the future to decide if you need the next big picture. doug? >> doug: thank you, molly. residents of the webster new york neighborhood set ablaze christmas eve have been allowed to return back to their homes. they say exconflict william spangler set the fire as a trap to lure firefighters
this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left as far as businesses also deal with their own tax hikes. >>...
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Dec 26, 2012
12/12
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FOXNEWSW
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we are joined by tax attorney marty for your taxes. >> if you want to reduce your taxes now or in 2013. >> how do you decide that? >> you have to run the numbers. are you in the alternative minimum tax rate and you have to really run your numbers and look at 2012 or 2013. you may be a higher bracket in 2013 and may want to take the deductions in 2013 rather than 2012. >> if you want to review the 2012 taxes you say prepaid state income taxes. >> if you pay the state income taxes that may be due next april 159 you have a large capitol gains maybe you sold something you can do that. one of the things you have to keep in mind in doing all of this you have to figure out the alternative minimum tax. there are two systems of taxation. the alternative minimum is a separate one you have to compute. doesn't allow you to conduct military business. you have to run the numbers both ways. for 2012 unfortunately congress hasn't even finished writing the 2012 laws let alone the fiscal cliff. they are going to be over 30 million people in taxes unless they do something called the amt patch. it is some
we are joined by tax attorney marty for your taxes. >> if you want to reduce your taxes now or in 2013. >> how do you decide that? >> you have to run the numbers. are you in the alternative minimum tax rate and you have to really run your numbers and look at 2012 or 2013. you may be a higher bracket in 2013 and may want to take the deductions in 2013 rather than 2012. >> if you want to review the 2012 taxes you say prepaid state income taxes. >> if you pay the...
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Dec 24, 2012
12/12
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FOXNEWSW
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in another survey 1 in 4 shoppers say higher taxes mean smaller holiday budgets. a ho hum christmas may mean tough times for the economy but ef with one more shopping day until christmas. the retail industry and the economy may depend on whether record traffic transforms into real spending. back to you. >> how about this for a jobs program. law enforcement positions now going to ordinary citizens not those sworn in, just ordinary citizens. we will tell you where it is happening and how it's working out. [ male announcer ] wouldn't it be cool if we took the already great sentra apart and completely reimagined it with best-in-class combined mpg, and more interior room than corolla and civic? and a technology suite with bluetooth, navigation and other handy stuff? yeahthat would be cool. introducing the all-new nissan sentra. it's our most innovative sentra ever. nissan. innovation that excites. now get a $169-per-month lease on a 2013 nissan sentra. ♪ >> in indiana a special tribute in the wake of a traffic event there. the community of richmond hill left devastat
in another survey 1 in 4 shoppers say higher taxes mean smaller holiday budgets. a ho hum christmas may mean tough times for the economy but ef with one more shopping day until christmas. the retail industry and the economy may depend on whether record traffic transforms into real spending. back to you. >> how about this for a jobs program. law enforcement positions now going to ordinary citizens not those sworn in, just ordinary citizens. we will tell you where it is happening and how...
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Dec 26, 2012
12/12
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KTVU
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would then be voting for tax cuts as opposed to tax increases they would now have to reach a deal. put the president and the democrat particular party would win. >> he gets to cut the military and he gets to blame republicans for it. >> also if congress does not reach a deal by monday as many as 500 million taxpayers will not be able to file until march and i can explain why when i see you next. tile la campbell -- kyle la calm about a ktvu channel 2 morning news. >>> they are asking all workers from d.c. washington area stores to coliseum together and he said he wants to send a respectful but potent issue. we have more times with the same message. >>> the u.s. base was the target of a suicide attack in afghanistan. a car bomb went off at the gates of camp chapman. the blast skilled a delivery guard and 6 children. the taliban is claiming responsibility. >>> more than 10 people people voted to support it but more than two-thirds voted not to have it but some say it passed too quickly. it protects some rights but underminds others. >>> now that voters have approved higher taxes for
would then be voting for tax cuts as opposed to tax increases they would now have to reach a deal. put the president and the democrat particular party would win. >> he gets to cut the military and he gets to blame republicans for it. >> also if congress does not reach a deal by monday as many as 500 million taxpayers will not be able to file until march and i can explain why when i see you next. tile la campbell -- kyle la calm about a ktvu channel 2 morning news. >>> they...
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Dec 27, 2012
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KPIX
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there are just five days left until economists say across-the- board tax increases and spending cuts threaten to send our committee over the so- called "fiscal cliff." today the president heads back to washington to try to strike a deal with lawmakers. congressional leaders are urging the senate to consider a bill that is already passed in the house that would extend existing tax cuts. >> meantime, the us treasury department says it will start taking steps to prevent the government from hitting the $16.4 trillion debt limit. >> new evidence the job market is improving. over the past month, the number of people seeking first-time unemployment benefits dropped to the lowest level since 2008. the labor department says weekly applications fell 12,000 to a seasonally adjusted 350,000. but experts warn the christmas holiday may have disrupted the figures. >>> and chicago wins the dubious award of having the nation's most expensive metered parking. starting new year's day park meters in downtown chicago will cost $6.50 an hour. that's up from $5.75. the city leased the meters to a private c
there are just five days left until economists say across-the- board tax increases and spending cuts threaten to send our committee over the so- called "fiscal cliff." today the president heads back to washington to try to strike a deal with lawmakers. congressional leaders are urging the senate to consider a bill that is already passed in the house that would extend existing tax cuts. >> meantime, the us treasury department says it will start taking steps to prevent the...
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Dec 29, 2012
12/12
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clearly, i don't want taxes to go up. taxes shouldn't go up on anyone. but to only raise taxes on those who are the top earners will only fund the government something like eight days. this is something that the american people need to understand and recognize. there are big failures going on in washington and people need to take notice and hold our politicians accountable. >> arthel: michael? >> if she's right and it's only eight days, why would the republicans hold every american taxpayer hostage for eight days' worth of a deal? there should be a deal on the tax part. it should happen in the next few hours. this is an artificial deadline created by a bunch of politicians two summers ago because they couldn't consume to an agreement. so that's why we're here on the new year's eve trying to figure out how not to have taxes go up by 99.7% of americans, which is what will happen come new year's day. that's why i think you're going to get it. the politician doesn't want to be the one to say i created the largest tax hike in history. >> arthel: so michael, w
clearly, i don't want taxes to go up. taxes shouldn't go up on anyone. but to only raise taxes on those who are the top earners will only fund the government something like eight days. this is something that the american people need to understand and recognize. there are big failures going on in washington and people need to take notice and hold our politicians accountable. >> arthel: michael? >> if she's right and it's only eight days, why would the republicans hold every american...
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Dec 23, 2012
12/12
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WBAL
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even if there is a short-term deal, these big issues over taxes and spending are far from resolved. if we get into the president's second term, they are still going to be occupying him. >> for folks who maybe may not have focused, if no deal is done, virtually, everybody's taxes would go up, correct? >> correct. automatic spending cuts to defense, other social programs. this is washington. congress can act quickly when their backs are really against the wall. we could go over the cliff and they could still come back within a few days and do legislation that would mitigate much of the damage. >> you have the head of the nra on your program. we made that controversial statement about putting armed guards into schools. where does this debate go, david? >> the big question is, twofold. does the president want this fight. is he prepared to extend the political capital to get gun control legislation. does the nra want to be part of this discussion or not? was wayne lapierre girding for a fight or does he want to be part of a broader discussion about how to deal with this kind of violence?
even if there is a short-term deal, these big issues over taxes and spending are far from resolved. if we get into the president's second term, they are still going to be occupying him. >> for folks who maybe may not have focused, if no deal is done, virtually, everybody's taxes would go up, correct? >> correct. automatic spending cuts to defense, other social programs. this is washington. congress can act quickly when their backs are really against the wall. we could go over the...
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Dec 26, 2012
12/12
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KGO
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lawmakers have less than a week to come to an agreement on how to avert tax increases set to go into effect in january. . >> in new york police have found a bed in the burned out home of the man who killed two firefighters monday. the victim is believed to be the gunman's 67-year-old sister. a vigil was held monday night for the firefighters. two other firefighters in the hospital. police say ex-convict william spengler armed himself with three weapons and set his house on fire to lure first responders into a trap he kill himself. police say he left a rambling three page note saying he wanted to burn down the neighborhood and kill as many people as possible. he did not give a motive >> the world'sdhfhñ longest high speed rail line is up and running in china. the first bullet train left beijing this morning. the line connects the capital city with the commercial southern hub. the rail line is designed for top speeds of over 200 miles an hour. what used to take 22 hours will now take eight. >>> coming up, another holiday begins today where you can take part in the bay area's largest k
lawmakers have less than a week to come to an agreement on how to avert tax increases set to go into effect in january. . >> in new york police have found a bed in the burned out home of the man who killed two firefighters monday. the victim is believed to be the gunman's 67-year-old sister. a vigil was held monday night for the firefighters. two other firefighters in the hospital. police say ex-convict william spengler armed himself with three weapons and set his house on fire to lure...
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Dec 23, 2012
12/12
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for not voting on the tax on over there for over a monthly they are allowing the tax on everyone over 2 thift,000 to go up. >> ?ar majority leader harry reid who has gotten involved, helpful or hurtful? >> i don't know if they are serious. there is talk democrats want to go over the fiscal cliff. if no action is taken by december 31st, everyone's tacks go up. that gives more revenue to the federal government and the president can decide who he will propose tax cuts for. i think the democrats feel it could go over the cliff. everyone's taxes will be gone up. >> automatically. >> what would happen to spending if you went over the cliff? >> you would have automatic spending cuts come in which in some cases mate be good, but could december mate defense. and that's the real concern i have is that these cuts are almost arbitrarily 50-50 and the defense is not 50% of the budget, and they will drastically cut weapon systems and the deployment of our troops. >> i can understand that you would be concerned about that. in terms of this christmas break now that you are home and the president is i
for not voting on the tax on over there for over a monthly they are allowing the tax on everyone over 2 thift,000 to go up. >> ?ar majority leader harry reid who has gotten involved, helpful or hurtful? >> i don't know if they are serious. there is talk democrats want to go over the fiscal cliff. if no action is taken by december 31st, everyone's tacks go up. that gives more revenue to the federal government and the president can decide who he will propose tax cuts for. i think the...
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Dec 23, 2012
12/12
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CNNW
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the senate minority leader mitch mcconnell to avoid the tax hikes. i think part of this is the president saying to house republicans, you have to come around and in way when boehner said, don, that the ball is in the court of the democrats, it's true. the republicans have given up their role as their primary negotiators in this. to this point, they are trying work out a smaller bill, and president obama, you can tell, he is holding out hope that it can work. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. call me a hopeless optimist? i still think we can get it done. >> and i think, don, that with congress going home, the president's other option was to stay in washington while no one was there. we saw some of the vacation last year disrupted for the president's late departure, so there was that desire to come out here. but i also think that some at the white house think that allowing congress to go home may also allow them to get somewhat of an earful from their c
the senate minority leader mitch mcconnell to avoid the tax hikes. i think part of this is the president saying to house republicans, you have to come around and in way when boehner said, don, that the ball is in the court of the democrats, it's true. the republicans have given up their role as their primary negotiators in this. to this point, they are trying work out a smaller bill, and president obama, you can tell, he is holding out hope that it can work. >> nobody can get 100% of what...
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Dec 27, 2012
12/12
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>> higher taxes and entitlement cuts. harris: before you go, i hear a huge however, in all of this and that's because the only thing you say would slow down a positive outlook is the federal government getting in the way. you know they're pretty good at that. >> look what happened, not only 12 months but really the last almost four years the economy should have been on a natural high. it has its own momentum, its own natural growth. unemployment has been historically terrible on these kind of recoveries. washington interfering with the natural growth of the economy. we do need to get them out of the way. we need them to make decisions give ground rules and make a head of steam. harris: you call white house, call congress, let us know how it works out. >> i've been down to washington and talked to political leaders. everybody is in one camp or the other. somebody has to give. we hope they compromise soon. harris: dominic, thank you, a financial advisor giving us advice today. thank you. >> have a great day. harris: you too
>> higher taxes and entitlement cuts. harris: before you go, i hear a huge however, in all of this and that's because the only thing you say would slow down a positive outlook is the federal government getting in the way. you know they're pretty good at that. >> look what happened, not only 12 months but really the last almost four years the economy should have been on a natural high. it has its own momentum, its own natural growth. unemployment has been historically terrible on...